Impinj (NASDAQ:PI) Issues Q2 Earnings Guidance

Impinj (NASDAQ:PI) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.72-$0.77 for the period, compared to the consensus EPS estimate of $0.19. The company issued revenue guidance of $96.0-$99.0 million, compared to the consensus revenue estimate of $79.04 million. Impinj also updated its Q2 2024 guidance to 0.720-0.770 EPS.

Impinj Stock Performance

PI traded down $4.64 during mid-day trading on Friday, reaching $150.91. 1,648,000 shares of the stock were exchanged, compared to its average volume of 395,377. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 5.59. The company has a 50 day moving average price of $119.23 and a two-hundred day moving average price of $95.02. Impinj has a 1 year low of $48.39 and a 1 year high of $156.41.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. The company had revenue of $76.83 million for the quarter, compared to the consensus estimate of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. Equities analysts forecast that Impinj will post -0.62 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Susquehanna upped their price target on Impinj from $130.00 to $140.00 and gave the company a positive rating in a research report on Tuesday. The Goldman Sachs Group upped their price target on Impinj from $130.00 to $156.00 and gave the company a buy rating in a research report on Friday. Piper Sandler reiterated an overweight rating and set a $150.00 price target (up from $130.00) on shares of Impinj in a research report on Thursday. Needham & Company LLC upped their price target on Impinj from $130.00 to $160.00 and gave the company a buy rating in a research report on Thursday. Finally, StockNews.com upgraded Impinj from a sell rating to a hold rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Impinj presently has a consensus rating of Moderate Buy and a consensus price target of $132.89.

Insider Activity

In related news, COO Hussein Mecklai sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the completion of the transaction, the chief operating officer now owns 40,489 shares in the company, valued at $4,243,247.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Hussein Mecklai sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the completion of the transaction, the chief operating officer now owns 40,489 shares in the company, valued at $4,243,247.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Cary Baker sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $102.14, for a total value of $2,042,800.00. Following the transaction, the chief financial officer now owns 55,432 shares of the company’s stock, valued at approximately $5,661,824.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 120,185 shares of company stock valued at $12,767,674. 17.10% of the stock is currently owned by company insiders.

About Impinj

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.